The global media buying services market is currently valued at approximately US$ 69 billion in 2022 and is projected to experience robust growth with a Compound Annual Growth Rate (CAGR) of 6.2%, reaching a substantial US$ 125.9 billion by the conclusion of 2032.
Advertising has been a longstanding promotional tool for businesses, dating back to the early days of newspapers. However, this strategy has evolved significantly into a more intricate and revenue-intensive marketing approach. In the contemporary landscape, merely displaying advertisements does not assure the success of a brand.
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Key Takeaways from Market Study:
- The global media buying service market is projected to expand at 6.2% CAGR and reach US$ 125.9 billion by 2032.
- The market expanded at 5.5% CAGR between 2017 and 2021.
- Under channel type, social media advertising is valued at US$ 14.9 billion in 2022.
- North America led the global market with 42% market share in 2021.
- Revenue from media buying services is expected to increase at CAGRs of 6.2% and 6.4%, respectively, in Europe and South Asia & Oceania.
Shifting Media Buying Trends: Programmatic Advertising Dominates
“Increase in New Direct-to-Consumer Brands Post-Pandemic”
The COVID-19 pandemic has permanently reshaped the landscape of entrepreneurship. As thousands of individuals worldwide found themselves unemployed with limited traditional job prospects, a surge in new business ventures emerged.
According to data from the US Business Formation Statistics (BFS), there has been a sharp uptick in business applications since the beginning of 2021. This trend has given rise to a new wave of disruptive brands in the consumer retail sector. These direct-to-consumer (DTC) companies handle all aspects of their products, from manufacturing and marketing to sales and distribution, cutting out intermediaries.
Direct-to-consumer brands experienced rapid growth during the pandemic, driven by shifts in consumer purchasing behavior and increased online engagement. However, their success has also attracted intense competition from both established corporations and emerging players.
This evolving landscape has spurred a heightened demand for media buying services, as businesses seek ways to distinguish themselves in a crowded marketplace. With the assistance of media buying agencies, companies are now delivering more sophisticated and tailored advertisements to their target audiences through the most appropriate media channels and at precisely the right times.
“Programmatic Advertising: The Future of Media Buying”
Media buying trends are evolving away from traditional channels and towards over-the-top media (OTT) and connected television (CTV). Programmatic ad buying is poised to become the dominant method for media buyers in the future. Programmatic advertising involves the automated purchase of online advertising impressions. It relies on intricate interfaces and algorithms to consolidate, book, assess, analyze, and optimize advertising campaigns.
The advertising industry is characterized by constant change and innovation, which can be challenging to keep up with. However, these changes present new opportunities and improved performance prospects. Programmatic advertising has experienced exponential growth in recent years and is expected to continue doing so. It is conceivable that most segments of media buying will become entirely dominated by programmatic methods in the coming years.
Competitive landscape:
Prominent media buying service providers are Anderson Collaborative, ARSENL, ATTN Agency, Booyah Advertising, Colormatics, Dentsu, EXL Media, GKV, Hotspex Media, Interpublic Group, Katz Media Group, Mancuso Media, Metric Theory, Moburst, MuteSix, Omnicom Group Inc., Publicis Armenia, Publicis Groupe, The buying Hub, The Remnant Agency, Wingman Media, and WPP.
Global media buying services providers are focusing on expanding their market share by increasing their services offerings, integrating technology in their services, and through mergers & acquisitions.
- In June 2022, WPP announced that it has agreed to acquire the business of Bower House Digital, a leading marketing technology service agency.
- In May 2022, Dentsu Group Inc. acquired additional shares of the digital marketing operations company Dig into Inc.
Fact.MR has provided detailed information about the providers of media buying agencies positioned across regions, revenue growth, and service offering expansion, in the recently published report.
Segmentation of Media Buying Services Industry Research:
· By Type :
- Direct Buys
- Programmatic Buys
· By Channel :
- Digital
- Social Media Advertising
- Search Media Advertising
- Programmatic Media Advertising
- Traditional
- Radio Advertising
- Print Advertising
- Television
- Outdoor
· By End-use Industry :
- BFSI
- Retail and Consumer Goods
- Business and Consumer Services
- Healthcare
- Manufacturing
- Transportation and Mobility
- Energy and Utility
- Trading and Warehousing
- Media & Entertainment
- Hospitality
· By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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